LAHORE – Pakistan has borrowed fresh external loans of $10.738 billion in Fiscal Year 2018 (FY18), reports revealed.
As per details, Out of total loans government borrowed $4.148 billion from commercial banks, $2.2 billion from Chinese banks while $3.837 billion from multilateral donor institutions.
In FY18, government sold Eurobonds and Sukkuk bonds worth $2.5 billion.
External borrowings during last two fiscal years (FY 2016 and 2017) reached $22.7 billion.
In FY17, borrowings from commercial banks were at $4.7 billion and from multilateral agencies it was at $4.65 billion. Moreover, government sold bonds worth $1 billion in FY17.